Asian markets are critical to the health of the Canadian forest industry. Canada’s already-established wood-building sector continues to expand in China, Japan, and South Korea. Through funding from NRCan, BCFII, Alberta government and other industry partners, Canada Wood’s programs enhance trade and market diversification goals for the Canadian forest industry; generating a steady long-term demand for Canadian wood products, providing significant opportunities for our producers, and playing a key economic role by supporting the Canadian communities that depend on the forestry industry for their livelihood. …The 2021 Impact Report shows the following economic returns realized by Canada Wood programs between 2016 – 2020:
- Total Canada Wood expenditures vs return equals $1=$21
- Helped support Canadian lumber prices by an average of $97/mfbm
- Generated additional demand for offshore shipments annually by 300 mfbm
- Lumber exports to Asia provide annual economic benefits of $228 million
The potential impact on industry Canada’s offshore lumber exports had not taken place include $11 billion revenue loss, 15,600 jobs risked, and $9.8 billion GDP and $345 million in production taxes impacted.